Babcock (NYSE:BW) Sees Unusually-High Trading Volume – Should You Buy?

Babcock (NYSE:BW) shares saw unusually-high trading volume on Thursday . Approximately 3,614,757 shares were traded during trading, an increase of 73% from the previous session’s volume of 2,083,854 shares.The stock last traded at $5.36 and had previously closed at $4.80.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Lake Street Capital reiterated a “buy” rating and issued a $9.00 price objective on shares of Babcock in a report on Wednesday. Wall Street Zen upgraded Babcock from a “sell” rating to a “hold” rating in a research report on Saturday. Craig Hallum upgraded shares of Babcock from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Wednesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.67.

Babcock Trading Up 9.3%

The firm’s 50 day moving average price is $3.23 and its two-hundred day moving average price is $1.78. The company has a market capitalization of $569.08 million, a P/E ratio of -3.31 and a beta of 1.91.

Babcock (NYSE:BW) last issued its quarterly earnings results on Tuesday, November 4th. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. The business had revenue of $149.00 million for the quarter, compared to the consensus estimate of $155.57 million.

Insiders Place Their Bets

In other news, CEO Kenneth M. Young acquired 20,000 shares of the stock in a transaction dated Monday, August 18th. The shares were bought at an average cost of $1.51 per share, for a total transaction of $30,200.00. Following the purchase, the chief executive officer directly owned 261,745 shares of the company’s stock, valued at approximately $395,234.95. This trade represents a 8.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Cameron M. Frymyer bought 20,000 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average cost of $1.55 per share, for a total transaction of $31,000.00. Following the completion of the acquisition, the chief financial officer owned 153,805 shares in the company, valued at $238,397.75. This trade represents a 14.95% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 59,347 shares of company stock worth $99,803. 3.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BW. Heartland Advisors Inc. boosted its holdings in shares of Babcock by 2.7% during the first quarter. Heartland Advisors Inc. now owns 1,411,000 shares of the technology company’s stock worth $949,000 after acquiring an additional 37,500 shares during the period. Russell Investments Group Ltd. lifted its holdings in Babcock by 1.3% during the 1st quarter. Russell Investments Group Ltd. now owns 1,724,713 shares of the technology company’s stock worth $1,160,000 after purchasing an additional 22,452 shares during the last quarter. Equitec Proprietary Markets LLC boosted its stake in Babcock by 28.3% in the 1st quarter. Equitec Proprietary Markets LLC now owns 327,365 shares of the technology company’s stock valued at $220,000 after purchasing an additional 72,265 shares during the period. Brightline Capital Management LLC grew its holdings in Babcock by 2.6% in the 1st quarter. Brightline Capital Management LLC now owns 1,550,000 shares of the technology company’s stock valued at $1,042,000 after buying an additional 40,000 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in Babcock by 13.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,985,590 shares of the technology company’s stock worth $1,333,000 after buying an additional 237,797 shares during the period. 83.17% of the stock is owned by institutional investors.

Babcock Company Profile

Babcock & Wilcox Enterprises, Inc engages in the provision of fossil and renewable power generation and environmental equipment. It operates through the following segments: B&W Renewable, B&W Environmental, and B&W Thermal. The B&W Renewable segment supports a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.